Author: David Indeje

Kenya’s Court of Appeal has upheld a High Court ruling declaring significant portions of the Finance Act 2023 unconstitutional. The Act, which remains in effect despite the rejection of its successor, was found to have been enacted through a fundamentally flawed process that bypassed essential legislative stages. The contested sections of the Finance Act introduced amendments to crucial tax laws, including income tax, VAT, excise duty, and regulations governing Special Economic Zones and Export Processing Zones. “Having found that the process leading to the enactment of the Finance Act, 2023, was fundamentally flawed and in violation of the constitution, sections…

Standard Group Plc has announced plans to lay off over 300 employees across various departments. The Nairobi Securities Exchange (NSE) listed media house cited a challenging operating environment characterized by shifting trends in media consumption and the impact of technological advancements on the digital media landscape as the primary reasons for the job cuts. In a statement issued on Tuesday, July 30, the company formally notified the Ministry of Labour and Social Protection of its intention to declare redundancy, as required by Section 40(1) of the Employment Act, 2007. Standard Group emphasized that: “In reaching this decision, we took into…

As Cadbury celebrates a remarkable 200 years of delighting chocolate lovers worldwide, the brand is commemorating this milestone in Kenya with a heartwarming campaign titled “Yours for Generations.” Founded in 1824 by John Cadbury, Cadbury has become synonymous with quality and generosity, earning a special place in Kenyan homes for over seven decades. The campaign launch event, held at Shamba Events in Loresho, Nairobi, served as a platform for Kenyans to revisit and share their most cherished memories associated with Cadbury chocolates. From celebrating academic achievements with a bar of Cadbury Dairy Milk to enjoying Lunchbar with friends, the campaign…

HMD Global, the home of Nokia phones, has launched the Better Phone Project to address growing parental concerns about the negative impact of smartphones on children’s mental health. The Better Phone Project initiative aims to co-create a new phone specifically designed for children, prioritizing their well-being and providing parents with greater control. A recent global survey commissioned by HMD Global revealed that over half of parents regret giving their child a smartphone, citing negative effects on their child’s behaviour and mental health. Key findings include: 70% believe their children would be more engaged with family without a smartphone. Nearly 75%…

Kenyan journalists rallied against what they describe as a heavy-handed government crackdown on media freedoms on Wednesday across the country. The demonstrations, marked by peaceful marches and poignant placards – “Journalists’ lives matter”, “Shoot not the messenger” and “End the brutality”  came in response to escalating attacks on journalists covering the country’s recent unrest against the Finance Bill 2024. Since the onset of anti-government protests in June, media personnel have faced a barrage of violence, including shootings, tear gassing, destruction of equipment, profiling and physical assaults. These incidents, coupled with government directives restricting live broadcasts and alleged threats against media…

StanChart Kenya raked in KES 1.29 billion in 2023 from its corporate and investment banking (CIB) sustainable finance business, marking a tenfold increase compared to KES 129 million in 2022. This impressive growth signifies the bank’s commitment to financing environmentally and socially responsible projects and clients. According to the bank’s 2023 Sustainability Progress Report, lending to Corporates and Investment Banking remained the primary driver, contributing over 98% of the total revenue in 2023 (up from 84% in 2022). The bank also saw a rise in sustainable finance income from this segment, earning KES 500 million in 2023. Revenue grew significantly,…